Unemployment — Question

Part of the debate – in the House of Lords at 3:14 pm on 22nd April 2009.

Alert me about debates like this

Photo of Lord McKenzie of Luton Lord McKenzie of Luton Parliamentary Under-Secretary, Department for Work and Pensions, Parliamentary Under-Secretary (Department for Work and Pensions) (also in the Department for Communities and Local Government) 3:14 pm, 22nd April 2009

My Lords, my noble friend makes some interesting observations, particularly on auditing firms. He is quite right that the UK economy is suffering from what economies across the globe are suffering from. We know that that was generated in particular by a banking crisis and irresponsible actions. That is why my noble friend Lord Myners has said today and previously that it was very important for the banking system to be stabilised at a macro level so that the economy could expand as a result.